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Investor group offers PG&E $4 bln plan to avoid bankruptcy

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Jan 28 Reuters - Shares of power producer PG&E Corp jumped on Monday after a BloombergNews report said an investor group had offered the company a $4 billion alternative plan that would avoid bankruptcy, according to a CNBC on Monday.

PG&E said this month it plans to file for Chapter 11 bankruptcy protection after coming under pressure from potentially crushing liabilities linked to California's wildfires in 2017 and 2018.

PG&E shares were last higher by 4.8 percent after rising as much as 15 percent earlier.


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